6/27, 12:59 PM (Source: TeleTrader)
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Global LNG exports to EU up 75% since March

Global exports of liquefied natural gas (LNG) to the European Union have increased by 75% since March, while exports from the United States have nearly tripled, according to a statement by European Commission President Ursula von der Leyen and US President Joe Biden on Monday. The EU and US will also cooperate to reduce methane emissions resulting from LNG production and consumption, the two leaders said.

"These actions only underscore the importance of the work both the United States and the European Commission are doing to end our reliance on Russian energy. We are also working together to find ways to further reduce Russia's energy-derived revenues in the coming months to further curtail Russia's ability to fund its unprovoked war in Ukraine," Von der Leyen and Biden noted. "The United States and the European Commission are also taking decisive action to reduce overall demand for fossil fuels in line with the Paris Agreement and our shared goal of net zero emissions no later than 2050."

Baha Breaking News (BBN) / DJ